India Investments Encouraged in China

Beijing Seminar Good for Investment

At a seminar today held in Beijing, India invited Chinese companies to come and make investments in China. The seminar, entitled, ‘India-China Business & Investment Seminar- Opportunities in IT, Engineering & Allied Sectors,’ was organized by Municipal Government of Yangzhou and Confederation of Indian Industry (CII) and Indian Consulate in Shanghai. The aim of the seminar is to encourage Chinese companies to make investments in India while giving them an overview of the country’s “FDI policy, basic tax and business laws, financing options,” facilitating a more informed decision prior to making the investment.

According to an article reporting on the seminar, attendees at the conference included: “Chief Representatives, CEOs and senior executives of Aditya Birla Group, BHEL, ICICI Bank Ltd , Infosys, Jiangsu Sterlite Tongguang Fiber Co Ltd, Elgi Equipments, L&T, MphasiS, Mahindra Satyam, NIIT, PTC Global, SBI, TCS, Tata Steel , Thermax, Wipro Infrastructure Engineering and CII.”

Increased Indian-Chinese Cooperation

It is hoped that there will be further cooperation between the two countries in the following areas: IT and Engineering, and more. According to Vice-Mayor of Municipal Government of Yangzhou Wen Daocai, this “joint initiative [is] offering a unique opportunity to Yangzhou based companies to engage with Indian companies.” New policies will be encouraging Chinese companies through helpful policies, fast approval and financial aid. In addition, through various components like growth, manpower and macro-economic stability to name but a few, India is now able to offer “attractive returns to prospective Chinese investors.”

Anticipated Investments

There are many opportunities these days for Chinese companies to invest in India, especially in the areas of infrastructure, freight, subway and SEZs and currently there is an anticipated trillion dollars worth of such investments. At the seminar, both Indian and Chinese companies were given the opportunity to “forge new business alliances as well as promote two-way investments.”

Indian Oil tops Fortune India 500 list

Fortune magazine’s India list of the 500 largest corporations included four Government owned companies among the top five companies in terms of revenue. The first company was Indian Oil Corp. The other high ranked companies were Reliance Industries, the State Bank of India, Bharat Petroleum and Hindustan Petroleum — all of which along with Oil and Natural Gas Corp, Tata Motors and Tata Steel which were also ranked in the Fortune 500 list of global corporations.

The rankings are determined by the company’s total revenues, year-on-year change in revenues, net operating income, profit, net worth, assets, dividends and total salaries.